Avantax Advisory Services Inc. Has $1.72 Million Stock Holdings in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Avantax Advisory Services Inc. grew its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTXFree Report) by 2.6% during the third quarter, HoldingsChannel.com reports. The firm owned 4,950 shares of the pharmaceutical company’s stock after buying an additional 125 shares during the period. Avantax Advisory Services Inc.’s holdings in Vertex Pharmaceuticals were worth $1,721,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Vertex Pharmaceuticals in the 4th quarter worth $707,950,000. Capital Research Global Investors boosted its position in shares of Vertex Pharmaceuticals by 278.0% during the second quarter. Capital Research Global Investors now owns 3,061,676 shares of the pharmaceutical company’s stock worth $1,077,434,000 after buying an additional 2,251,781 shares during the period. Capital World Investors grew its holdings in shares of Vertex Pharmaceuticals by 7.4% during the second quarter. Capital World Investors now owns 17,340,634 shares of the pharmaceutical company’s stock worth $6,102,288,000 after buying an additional 1,196,211 shares in the last quarter. Macquarie Group Ltd. raised its position in Vertex Pharmaceuticals by 232.3% in the 2nd quarter. Macquarie Group Ltd. now owns 933,179 shares of the pharmaceutical company’s stock valued at $262,961,000 after buying an additional 652,321 shares during the last quarter. Finally, Winslow Capital Management LLC boosted its position in Vertex Pharmaceuticals by 133.4% during the 2nd quarter. Winslow Capital Management LLC now owns 1,138,941 shares of the pharmaceutical company’s stock worth $400,805,000 after acquiring an additional 650,966 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VRTX. Morgan Stanley lifted their price objective on shares of Vertex Pharmaceuticals from $359.00 to $364.00 and gave the company an “equal weight” rating in a report on Wednesday, November 8th. Robert W. Baird cut Vertex Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $325.00 price objective for the company. in a report on Wednesday, January 31st. StockNews.com upgraded Vertex Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 12th. JPMorgan Chase & Co. boosted their price target on Vertex Pharmaceuticals from $390.00 to $438.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Canaccord Genuity Group downgraded Vertex Pharmaceuticals from a “hold” rating to a “sell” rating and increased their price objective for the company from $332.00 to $379.00 in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Vertex Pharmaceuticals currently has an average rating of “Hold” and an average target price of $403.79.

Get Our Latest Report on VRTX

Insider Activity at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, Chairman Jeffrey M. Leiden sold 6,648 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $419.07, for a total value of $2,785,977.36. Following the transaction, the chairman now owns 2,423 shares in the company, valued at $1,015,406.61. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Vertex Pharmaceuticals Stock Performance

Shares of NASDAQ:VRTX opened at $416.13 on Wednesday. The company has a quick ratio of 3.89, a current ratio of 4.08 and a debt-to-equity ratio of 0.02. Vertex Pharmaceuticals Incorporated has a 12-month low of $283.60 and a 12-month high of $448.40. The company’s 50 day moving average price is $407.08 and its two-hundred day moving average price is $373.59. The firm has a market cap of $107.23 billion, a PE ratio of 29.96, a PEG ratio of 2.40 and a beta of 0.36.

Vertex Pharmaceuticals (NASDAQ:VRTXGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The pharmaceutical company reported $4.20 earnings per share for the quarter, beating the consensus estimate of $3.85 by $0.35. The firm had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Vertex Pharmaceuticals had a return on equity of 22.65% and a net margin of 36.68%. During the same period in the previous year, the firm earned $3.33 EPS. Equities research analysts predict that Vertex Pharmaceuticals Incorporated will post 15.18 earnings per share for the current year.

Vertex Pharmaceuticals Company Profile

(Free Report)

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO and SYMDEKO/SYMKEVI for people with CF with at least one F508del mutation for 6 years of age or older; ORKAMBI for CF homozygous F508del mutation for CF patients 2 year or older; and KALYDECO for the treatment of patients with 4 months or older who have CF with a mutation that is responsive to ivacaftor, and R117H mutation or one of certain gating mutations.

Further Reading

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Institutional Ownership by Quarter for Vertex Pharmaceuticals (NASDAQ:VRTX)

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